RouteOne eContracting volume increased nearly 30% to 2 million contracts processed in 2015 after more than doubling in 2014. The growth is attributable to widespread adoption by over 5,300 dealers and increased finance source participation.
To support that growth and further streamline dealer processes, during the course of 2015, RouteOne implemented numerous enhancements. A complimentary tablet computer e-signing app was launched to de-tether the signing process and reduce reliance on proprietary devices. The ability to Paper Out® was enabled to allow any deal to start as an eContract and then simply convert to paper if it's rejected. In addition, the capability for dealers to switch a credit application associated with an eContract was added to better facilitate spot delivery and other similar needs.
The number of finance sources and dealer management systems (DMS) available for eContracting also increased and is expected to grow again in 2016. Although not a requirement to using eContracting, for many dealers DMS integration is important to reducing duplicate data entry and errors. As a result, RouteOne remains committed to growing the number of DMS integrations to support dealer control over the processes they wish to deploy.
“Well, everyone talks about the future,” stated Aaron Tice from the Lia Auto Group, “but RouteOne brings the future to your store with . . . seamless eContracting and other features! Also, they invest in people that show up and actually help you regularly, rather than put you on hold for 30 minutes any time you call.”
“Growth is great,” said Mike Jurecki, RouteOne CEO, “but what is more important is that eContracting is making it easier to buy and finance vehicles. It is helping to ensure consumers are always presented with the most current finance contract and disclosures, completed with correct, validated data, and that their signatures are captured where needed. eContracting supports a better and more transparent consumer experience, reduces errors and contract returns, and provides a faster funding process for dealers. It is a win for everyone.”
RouteOne was formed in 2002 by Ally Financial, Ford Motor Credit Company, TD Auto Finance, and Toyota Financial Services to improve the F&I process for automobile dealers and their customers. Connecting thousands of dealers and finance sources in North America for vehicle financing, RouteOne’s platform delivers a comprehensive suite of F&I solutions across multiple channels: in-store, online, mobile, and via third-party solutions. Its flagship products include credit applications, eContracting, compliance, desking, and online/mobile retail services. In addition, RouteOne enables dealer choice across a wide variety of best-in-class providers through open integrations with over 125 DSPs. More information is available at www.routeone.com.
Paper Out® is a registered trademark of eOriginal.